Category Archives: Economy

Why a social housing stimulus is a measure Morrison cannot ignore.

Given our Prime Minister’s famously well-honed skill of tapping into the public mood, as well as his claims to an economically hard-headed approach to policymaking, you would surely expect a social housing stimulus plan to be front and centre of … Continue reading

Posted in Economy, Housing | 2 Comments

Will we ever be satisfied with less?

I can’t imagine the old normal returning unaltered after COVID-19 but worry that the rush towards a new normal will entail too much focus on growth and profits and not enough on caring for the vulnerable and the environment. If … Continue reading

Posted in Economy, Politics | 4 Comments

Saturday’s good reading and listening for the weekend

What people in other forums are saying about public policy

Posted in Economy, Politics | 1 Comment

Neoclassical economics III: a machine to destroy the world

The false nostrums of the pseudo-science of neoclassical economics have been used to create a system that promotes endlessly increasing consumption of resources and endless elaboration of technology. This system already operates far beyond the needs of people. Our survival … Continue reading

Posted in Economy | 2 Comments

What is ‘middle income’ in Australia?

‘When I use a word,’ Humpty Dumpty said, in a rather scornful tone, ‘it means just what I choose it to mean – neither more nor less.’ Middle income, a term beloved of politicians, is like that. At a time … Continue reading

Posted in Economy | 1 Comment

The Budget – possible additional measures

Yesterday I considered the economic outlook and concluded that on present policies the pace of the recovery post-Covid is likely to be too slow. Today’s article discusses what extra stimulus should be incorporated in the Budget in two weeks, and … Continue reading

Posted in Economy, Politics | 2 Comments

Neoclassical economics II: pseudo-scholarship

Neoclassical economics is without scholarly integrity. It does not belong in universities. It certainly should not be the dominant source of policy advice to governments.

Posted in Economy | 3 Comments

The economic outlook and the Budget

In two weeks the Government will bring down its delayed 2020 Budget. This article discusses the economic outlook and concludes that further stimulus measures will be necessary in the forthcoming Budget. The desirable size of that additional fiscal stimulus and … Continue reading

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Neoclassical economics I: farcical global warming analyses

Analyses of the economic effects of global warming by prominent economists are based on patently invalid arguments, profound ignorance of the global response to solar energy and basic misrepresentation of scientific sources. Their conclusion that the effects are minor is … Continue reading

Posted in Economy, Top 5 | 14 Comments

Saturday’s good reading and listening for the weekend

What people in other forums are saying about public policy

Posted in Economy, Politics | 2 Comments

Forecast of 2020-21 Migration and Humanitarian Program

Australian governments have always cut the immigration intake in response to a recession. The 2020-21 intake will be no different. While the Government may announce a ‘ceiling’ that is not much below that for 2019-20, the actual planning level, which … Continue reading

Posted in Economy, Refugees, Immigration | 5 Comments

Time for a rethink on discount rates

The 1980s were great in many ways, but a 1989 discount rate is looking distinctly old-fashioned in 2020.

Posted in Economy | 1 Comment

After Covid, we’ll need a rethink to repair Australia’s housing system and the economy (The Conversation Sep 11, 2020)

A new report from the New South Wales Productivity Commission (NSWPC) announces that “[higher] housing costs […] impose broader economic costs”. That chimes with our own newly published research. The implication is that Australia’s heavily capitalised housing market will weigh down economic recovery … Continue reading

Posted in Economy | 1 Comment

Zero-case status is the best COVID-19 option for Australia – And that means stronger controls over international arrivals (Part 2 of 2)

To achieve and continue with zero-case status we need to minimise the risk there will be a major breach in our current systems for quarantining international arrivals.

Posted in Economy | 9 Comments

Zero-case status is the best Covid-19 option for Australia – and that means stronger controls over international arrivals (Part 1 of 2)

Australia is the victim of its own success – the jurisdictions that have succeeded will not give up their gains. Thus, Victoria and New South Wales – and Queensland – have to achieve zero-case status too, otherwise we will have … Continue reading

Posted in Economy | 10 Comments

Oil, our sword of Damocles

Eighty percent of global oil production needs to be replaced by 2040 to meet projected demand. It is increasingly likely, particularly post COVID, that much of this oil production will not be replaced. There is an urgent and existential need … Continue reading

Posted in Economy | 5 Comments

Saturday’s good reading and listening for the weekend

What people in other forums are saying about public policy

Posted in Economy, Politics | 1 Comment

Trade reform for agriculture cannot wait

The scramble among nations to increase self-sufficiency and re-jig agriculture supply lines in the Covid-19 environment, together with increasing protectionism, points to an urgent need for Australia, together with regional partners, to rethink the legal structure that underpins this sector … Continue reading

Posted in Economy, World Affairs | 2 Comments

China-Australia Business Relations. Are we still Lao Pengyou?

Close business friendships, and our common humanity, must always transcend loose political rhetoric.

Posted in Economy, Politics | 6 Comments

Falling into depression

It has always been argued that gas, while not a squeaky clean fuel, is a least a better bet than coal. But now it turns out that gas may be even dirtier, because the methane leaks that cannot be contained … Continue reading

Posted in Economy, Politics | 8 Comments

Tudge’s Global Talent Task Force – Spin or Substance?

Acting Immigration Minister Alan Tudge on 4 September announced a ‘Global Business and Talent Attraction Taskforce’ as part of the Government’s JobMaker Plan. Sadly it seems Tudge’s announcement looks increasingly like spin over substance.

Posted in Economy | 2 Comments

The Australian Government is pursuing economic suicide

The prime objective of a country is to maximise the interests of its inhabitants. That objective is met in trade by selling its goods at the best possible price. What the countries leaders may think of the politics of their … Continue reading

Posted in Economy, Politics, Top 5 | 1 Comment

Has the US Fed buried Milton Friedman’s monetary legacy?

The US Fed Chair Jerome Powell last week buried wage inflation targets. Always terrible, does this burial mean new hope?

Posted in Economy, World Affairs | Leave a comment

Saturday’s good reading and listening for the weekend

What people in other forums are saying about public policy

Posted in Economy, Politics | Leave a comment

Border openings, vaccine illusions and a log jam of proposals

Even before a Covid-19 vaccine arrives Coalition politicians, limited by their assumption there is no alternative to capitalism, are recommending the resurrection of Reagan and Thatcher policies to treat everyone and everything as a commodity.

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Superannuation: how much do we need to save?

A hot political issue is whether to proceed with the legislated increase in superannuation contributions from 9.5 to 10 per cent next July. There are pros and cons but if the superannuation increase is further postponed, there should be an … Continue reading

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The looming financial and social storm – Part 2

Global debt, financial and social problems are about to get worse thanks to the usual suspects – governments’ corporate welfare policies and corporate welfare rorts – and dramatically increase inequality.

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Unmaking socio-economic cohesion Part 2

The neoliberalist ethos has been a long time in gestation and cultivation. Society, social order and the role of the state in such are alien to it. Economists are a large part of the story – indeed the centrepiece?

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Gig workers falling through pandemic protection

Many people have pointed out how various groups have been forgotten in the official response to the Covid-19 pandemic: casual workers, temporary migrants, and anyone involved in universities.

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Unmaking socio-economic cohesion – part 1

While the Morrison government promulgates the US’ and Australian ‘shared values’, the nightmare that is the American health system looms large. Yet dominant opinion since the 1980s would have Australia mimic the US’ and Thatcherite Britain’s ideological predisposition.

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